Full year 2020 £1.6bn of revenues (+42% YoY), £151m adjusted EBITDA (+35% YoY) after £2.6m of self-funded furlough costs Statutory operating profit before adjusted items of £46m, £(482m) operating loss driven by one-off, non-cash items, principally equity awarded to our people THG PLC ( THG or the Group ), the proprietary technology platform specialising in taking brands direct to consumers ( D2C ) globally, announces its preliminary results for the financial year ending 31 December 2020 ( FY 2020 ), together with its trading update for the three months ending 31 March 2021 ( Q1 2021 ). (1) Gross Margin% is presented before the impact of depreciation and amortisation (2) Adjusted EBITDA is defined as operating profit before depreciation, amortisation and adjusted items, and afte